PepsiCo, Inc. $PEP Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 106,237 shares of the company’s stock after selling 5,320 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PepsiCo were worth $14,028,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in PepsiCo in the 1st quarter valued at about $25,000. Elite Financial Inc. purchased a new position in shares of PepsiCo in the 1st quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the 2nd quarter valued at about $29,000. Frazier Financial Advisors LLC increased its holdings in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEP. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Piper Sandler raised their price target on PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Citigroup dropped their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Finally, BNP Paribas Exane dropped their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $156.58.

PepsiCo Trading Down 0.1%

Shares of PEP stock opened at $153.03 on Thursday. The business’s 50 day moving average is $145.89 and its two-hundred day moving average is $139.49. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $174.00. The company has a market capitalization of $209.24 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 3.73 and a beta of 0.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, October 9th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period last year, the business posted $2.31 EPS. The company’s revenue was up 2.7% on a year-over-year basis. PepsiCo has set its FY 2025 guidance at 8.120-8.120 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.